Download - The Bangchak Petroleum Plc
1
STRICTLY PRIVATE & CONFIDENTIAL
The information contained herein is being furnished on a confidential basis for discussion purposes only and only for the
use of the recipient, and may be subject to completion or amendment through the delivery of additional documentation.
Except as otherwise provided herein, this document does not constitute an offer to sell or purchase any security or
engage in any transaction. The information contained herein has been obtained from sources that The Bangchak
Petroleum Public Company Limited (“BCP”) considers to be reliable; however, BCP makes no representation as to, and
accepts no responsibility or liability for, the accuracy or completeness of the information contained herein. Any
projections, valuations and statistical analyses contained herein have been provided to assist the recipient in the
evaluation of the matters described herein; such projections, valuations and analyses may be based on subjective
assessments and assumptions and may utilise one among alternative methodologies that produce differing results;
accordingly, such projections, valuations and statistical analyses are not to be viewed as facts and should not be relied
upon as an accurate representation of future events. The recipient should make an independent evaluation and
judgment with respect to the matters contained herein.
The Bangchak Petroleum Public Company LimitedThe Bangchak Petroleum Public Company Limited210 210 SukhumvitSukhumvit 64 Rd., 64 Rd., PhrakhanongPhrakhanong, Bangkok 10260, Bangkok 10260
Disclaimer
2
STRICTLY PRIVATE & CONFIDENTIAL
Contents
► Company Background
► Refinery Improvement
► Marketing Business
► Performance
► Appendices
4
STRICTLY PRIVATE & CONFIDENTIAL
Bangchak is an Integrated Oil Company in Thailand
210--PT
38215ComplexIRPC (TPI)
3275ComplexThai Oil
-145ComplexStar
-145(1)ComplexRayong RRC(PTTAR)
574165ComplexESSO
531+531+532532120120SimpleSimpleBangchak (BCP)Bangchak (BCP)
7017SimpleRayong Purifier (RPC)
146--Conoco
13,276--Independent Gas Stations
113--Petronas
179--Susco
428--Chevron
562--Shell
1,216--PTT
17,87817,8781,0821,082TotalTotal
ServiceServiceStationStation
Refinery Refinery CapacityCapacity
(KBD)(KBD)
Refinery Refinery TechnologyTechnology
PlayersPlayersIn ThailandIn Thailand
• An integrated oil company of which operation ranges from refinery business to marketing business.
• The 2nd largest in number of service station
• Focus on high quality refined petroleum products with reduce environment impact
Note: (1) Rayong (RRC) plans to expand its refinery capacity for 65 KBD in 3Q08
IntegratedIntegratedIntegrated
RefineryOnly
RefineryRefineryOnlyOnly
MarketingOnly
MarketingOnly
5
STRICTLY PRIVATE & CONFIDENTIAL
Refining Production & Marketing Channel
Jobbers
ThaiAirways
Factories
Jobbers
BCP’s
Refinery
Business
BCPBCP’’ss
RefineryRefinery
BusinessBusiness
ImportImportCrudeCrude(25%)
LocalLocalCrudeCrude(75%)
Simple RefinerySimple RefineryNameplate : 120 KBDNameplate : 120 KBD
Wholesalers
PTT
Wholesalers
Export
Wholesale Customers
Retail Customers (Service Stations) 45%
RefinedRefinedProductsProducts
BCP’s
Marketing
Business
BCPBCP’’ss
MarketingMarketing
BusinessBusiness
GRM
MKM
CrudeCost
Ex-RefPrice
WholesalePrice
RetailPrice
HSDHSD 35%35%MogasMogas 18%18%IK/JPIK/JP--1 1 11%11%LPGLPG 3%3%FOFO 33%33%
MKM
CO 261
JV 156
DODO 114
CO-OP 532
+ Non Oi l
Value Chain
40%
60%
2%
5%
33%�Standard Size (Stations)
NGV StationLUBE
�Small Size (Stations)
Mogas91, GSH95, GSH91, HSD, B5, E20
Mart
Car Care
Coffee Shop & Other Facilities
Industrial Customers 15%
JP-1, FO, HSD, LPG
JP-1
FO, LPG, LUBE
HSD
Gas Station LPG
• Product slate weighted towards heavy fuel oil and diesel
• Investment in PQI to turn from simple refinery to be a complex refinery
531
6
STRICTLY PRIVATE & CONFIDENTIAL
Capital Structure Changed help enhancing competitive position
I. Capital RestructuringI. Capital Restructuring II. PQI Fund RaisingII. PQI Fund Raising
Siam DR(Depository House)
Siam DR(Depository House)
W/C 4,000
L/T Loan 8,500
W/C 4,000
L/T Loan 8,500
CS 3,000CS 3,000
CD 4,000CD 4,000 PrivatePlacement
Issued to
Issued to
CSDRCSDR
PublicOffering
CDDRCDDR
Issued
Issued
Capital Protectedby MoF
Unit : THB Million
Debt 19,500*
(Short – Medium Term)
Debt 19,500*
(Short – Medium Term)
Change to
* MOF Guarantee
directly 8,000
No. of Paid-up Shares 522 Million Shares
No. of Paid-up Shares 691 Million Shares
No. of Paid-up Shares 1,119 Million Shares
No. of Fully Dilution
1,406 Million Shares
L/T Loan 8,400L/T Loan 8,400
FI 2,064FI 2,064
PTT 3,930PTT 3,930
Debt Equity Operation
Cash 390Cash 390
PTT(CD) 585PTT(CD) 585
Total Sources of Fund 15,369
Unit : THB Million
• Financial closed on May 16, 2006
• Syndicated loan from 3 local banks
• PTT&FI purchase common share at price Baht 14.00 per share
• PTT became to major shareholder with 29.75%
(2003-2004) (2005-2006)
Situation DifficultySituation Difficulty Oil Market VolatilityOil Market Volatility
SETTBDCListed in
2014
THB13
2014Maturity
CSDR > THB20.80CSDR >THB21.45Forced Conversion
-3%
(semi-annual)Coupon
CSCDUnderlying Sec.
THB10,000Capital Protection (Per unit)
CSDR(BCP-DR1)
CDDR(BCP141A)Terms
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STRICTLY PRIVATE & CONFIDENTIAL
Shareholding Structure
MOF
PTT
Others
125
52
343
11%
5%
31%
FI
Total CSDR 520
PTT -0-
Total (CSDR+CS) 691
47%
25%
100%
Unit : Million shares
CDDR fully convert to CS(at 14.3 Baht/share)
Total (Fully diluted)
Warrant fully convert to CS(add 18 Baht/share)
CD-PTT fully convert to CS(at 14 Baht/share)
Fully diluted
125
52
343
520
281
1,119
ESOP
18%
8%
51%
77%
-0-
100%
After Restructuring
125
52
343
520
281
1,119
9%
4%
24%
37%
20%
79%
Others (Included CDDR partially convert 128 Mil. shares)
171 28% 31823% 318 22%
152 11%
42 3%
69 5%
24 2%
1,406 100%
BCP’s Shareholding Structure
PTT PTT PTT OthersOthersOthers
MoFMoFMoFPTT PTT PTT OthersOthersOthers
BCP-DR1BCPBCP--DR1DR1
Siam DRSiam DRSiam DR
Siam DR IssuedBCP-DR1of THB 3 billion
Siam DR IssuedBCP-DR1of THB 3 billion
(1)
(2)
(1)
(2)
(2)
Total PTT 30%
Total PTT 27%
After PQI Fund Raising
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STRICTLY PRIVATE & CONFIDENTIAL
Key Strength & Opportunity
Bangchak Green Net
49%
(Subsidiary Company)
Fuel Pipeline Transportation
11%
(Related Company)
Key StrengthKey Strength
• Integrated oil company of which operation ranges from
refinery business to marketing business
• The 2nd largest in number of service stations through
out the country 1,063 stations
• Strong position in renewable energy and biofuels
• Plant configuration fit with gasohol base production
• PTT as a major shareholder
• Plant Locate in Bangkok which is the center of oil
damand
OpportunityOpportunity
• High oil prices drive demand in alternative fuel
• Government policy to support biofuels by widen price
gab between gasohol and gasoline normal grade
10
STRICTLY PRIVATE & CONFIDENTIAL
0
20
40
60
80
100
120
2003 2004 2005 2006 2007
GO 0.5%S
FO 3.5%S
Dubai
-40
-20
0
20
40
GO/DB
FO/DB
6566566274 89
-
20
40
60
80
100
120
2003 2004 2005 2006 2007 2008E
1.64 1.83
3.42
2.78
3.58 3.85 Base GRM
USD/Bbl
• Crack spread FO/DB lowest at (20.38) $/Bbl (Sep 4, 2006)• Crack spread GO/DB highest at 24.21 $/Bbl (Jun 16, 2006)
• Crude DB price highest at 90.13 $/Bbl (Nov 11, 2007)
2003 2004 2005 2006 2007
Crude Run (KBD)*
FO Exportto China
More Volatile Refining Margins at Higher Crack Spread
• Name Plated Capacity 120 KBD
Price
Spread
Oil Price Situation 2003 - 2007
Co-crackingwith Thaioil
Less FO requirementby EGAT
11
STRICTLY PRIVATE & CONFIDENTIAL
USD/bbl
10
8
6
4
2
0
Product Quality Improvement Project (“PQI”)
What is PQI ?What is PQI ? Result from PQIResult from PQI
CounterpartiesCounterparties
• PQI is the Investment in “Hydrocracking Unit” and other
supporting units
• These units enable BCP to turn current fuel oil output to
be gas oil without increasing the capacity
• Feasibility Study UOP LLC & Foster Wheeler Corporation
• Technology License UOP LLC• EPC Contractor CTCI Corporation• Project Mgnt Consultant Foster Wheeler Corporation
• Investment Cost USD 378 million (Included Contingency 30 MUSD)
• Construction Period May’06 - Year end 2008
Investment & ConstructionInvestment & Construction
MEME FEFEMEME FEFE
CurrentSimple Refinery
AfterPQI Completion
EnhanceEnhance
Crude MixCrude Mix
FlexibilityFlexibility
Less FOLess FO
OutputOutput
PortionPortion
SurgeSurge
GRMGRM
CurrentSpread
CurrentSpread
FeasibilitySpread
LPG, 3%
Diesel,
35%ULG, 18%
Jet Fuel,
11%
Fuel Oil,
33%
LPG, 5%
Diesel,
52%
ULG, 25%
Jet Fuel,
9%
Fuel Oil,
9%
IncreaseIncrease
Crude Crude
RunRun
~ 70 KBD (58%) ~ 100 KBD (83%)
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STRICTLY PRIVATE & CONFIDENTIAL
-
2,000
4,000
6,000
8,000
10,000
12,000
2003
2004
2005
2006
2007F
2008F
2009F
2010F
2011F
THB mil
-
2
4
6
8
10
12
USD/bbl
EBITDA
EBITDA (feasibility study)
GRM
GRM (feasibility study)
EBITDA after PQI
Prosperous Return from PQI
Note: (1) EBITDA 2008F-
2011F based on GO/DB
USD15.21/bbl and
DB/FO USD12.00/bbl
(2)EBITDA (feasibility
study) 2008F-2011F
based on GO/DB
USD10.5/bbl and
DB/FO USD3/bbl
Both cases based on
gradually growing crude
run from 65 KBSD
before COD after that
run max 100 KBSD
* Not included inventory
effect
(1)
(2)
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STRICTLY PRIVATE & CONFIDENTIAL
PQI
15,369 Btm
(USD 378 m) Equity*
12,305 Btm
(USD 308 m)
Net Debt
6,255 Btm
(USD 156 m)
68,000 Btm
(USD 1,700 m)*
&
33,929 Btm (USD 842 m )
Enhance BCP
Retail marketing network (~1,100 stations, ~52 KBD)
Typical 100 KBD
Refinery + Cracker
No marketing network
Note: * revaluation inclusive
Investment Justification
Green Field
save 34,071 Btm
(USD 858 m )
Cracking
unit
Source : PTIT Study
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STRICTLY PRIVATE & CONFIDENTIAL
2006
PQIPQIFeasibility StudyFeasibility Study
Substation PowerSubstation PowerEnergizedEnergized
2007 2008
All Long Lead All Long Lead Items Delivery Items Delivery
to Siteto Site
2009
Award EPCAward EPCContractorContractor
2005
BOD ApprovedBOD ApprovedPQI InvestmentPQI Investment
Signing Signing Ceremony Ceremony
•• Common Share Common Share SubscriptionSubscriptionBy PTT & FIBy PTT & FI•• Financial Closed Financial Closed
Details Design &Details Design &Site PreparationSite Preparation
Start Start ConstructionConstruction
WorkWork•• MechanicalMechanicalCompletionCompletion•• Test RunTest Run
PQI Chronology
• Under Lumpsum Turnkey Contract
• Performance Guarantee•World Class PMC & Technology Licensor
Project Risk Management
• Insurance Coverage• FX Hedged for Project Cost
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STRICTLY PRIVATE & CONFIDENTIAL
ObjectiveObjective• Run up to 100 KBD
• No Event of Defaults
Logistic
Manufacturing
Sale
PR
Finance
HR
IT
Action Done to Ensure Successful Operation after PQI
� Maximize Capacity Readiness Task Force� NG Supply System� DCS Upgrading� Additional LR Feed Line� Boiler Preparation � Tank Reparation
� PTT/Supply Sale/Export � Retail Sale� Industrial Sale� Depot Facility
� IT System Implementation:Oil Record, L/P, Simulation
� Lab Information System� Management Information
� Road Show / External PR� Internal PR
� Crude Receiving Facility� Barge Fleet� LP & Simulation� NG Supply Contract� Fuel Own used Plan� Crude Supply Plan
� Working Capital Preparation� Loan Management� Contingency Reserve
� Recruitment� Training� Office Expansion� Individual KPI
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STRICTLY PRIVATE & CONFIDENTIAL
Cogeneration Power Plant
• Stability of Electricity’s Plant System is increased
• Increase efficiency of public utility system using energy
• Save money of building reserve boiler about 2.1 M$
• Expense decreasing from producing and buying
electricity and stream
• Saving from using Natural Gas instead of Fuel Oil
BenefitBenefit
Since PQI Project will has done, electricity and steam
demand will be increased.
15.7
12.1
3.6
76
Change +
29.1
20.9
8.2
13.4
8.8
4.6
Electricity Demand (MW)
� By ourselves
� Buy from Metropolitan Electricity
Authority
15680
Steam Demand (Ton/Hour)
� By ourselves
After PQI
Project will
has done
CurrentDemand @ Crude Run 100 KBD
about 1,000 square metersSpace
Q2-2009 COD
90 tons per hourSteam Capacity
After 25 years then transfer ownership to BCPOperate Period
Vary to CPI and GPI,CPI = Consumer Price IndexGPI = Gas Price Index
Steam Price
MEA minusElectricity Price
19.7 MWElectricity Capacity
HOA SummaryHOA Summary
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STRICTLY PRIVATE & CONFIDENTIAL
19.4%
Full Range of Products Under Marketing Business
Co-op
Standard
LPG
Diesel B5
Mogas 91
Gasohol 95
Gasohol 91
Diesel B2
JP1
Fuel Oil
NGV StationLUBE
Non Oil
Retail M
arketing
Industrial M
arketing
10.2
KBD %
10.1%5.3
7.6%4.0
9.1%4.8
28.8%15.1
0.8%0.4
14.1%7.4
10.1%5.3
100.0%52.5Total
Industrial
19
STRICTLY PRIVATE & CONFIDENTIAL
The Leader in Renewable Energy
• Sales volume ~52 KBD (250 ML/Month , 4th Market
Share)
• Pioneer in co-operative type service station and self
service station
• Leader in renewable energy (1st market share in diesel
B5 & 2nd in Gasohol)
• Cooperate with PTT to sell NGV in service stations
• Operating In - Station Non - Oil Business such as
Inthanin Café, Green Serve, Green Auto Service etc. • Service station Re-branding to capture new target group which
is younger generation
• Seeking partnerships for additional business in service stations
• Strengthen Gasohol and Biodiesel sales volume though
marketing network
• Researching and Developing renewable energy products
Marketing Strategy
Marketing Business Overview
20
STRICTLY PRIVATE & CONFIDENTIAL
32.5 %32.5 %
16.0 %17.6 %
12.6 %12.6 %
8.2 %8.2 %
OthersOthers
13.1 %13.1 %
34.3 %34.3 %
15.4 %16.9 %
12.1 %12.1 %
8.3 %8.3 %
OthersOthers
13.0 %13.0 %
4th RankY2006 9M07
Source : DOEB, MOE
4 th Rank Market Share in Service Station
21
STRICTLY PRIVATE & CONFIDENTIAL
BCP
78.6%
PTT
21.4%
0
5
10
15
20
25
30
35
40
45
50
55
0
100
200
300
400
500
600
700
800
FY2006 Dec. 07
0
50
100
150
200
250
300
350
Highlight of Marketing Achievement in 2007
Thruput (K.liter/Month/Station)
Contributed fromContributed from
• Oil price hike
• Government policy to make price differentiation
• Company’s policy & clear direction
• Market acceptation in renewable energy
• Expansion non-oil business
• Management by KPIs
Sale per Gas Station Growth Continuously1st rank market share of Biodiesel B5
41.2%
Ref : Channel service station for 9 months 2007
Increase Biodiesel B5 outlet
from 200 stations in 2006 to be 700 stations in 2007
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2006 2007
Vol, M.liter/Month (Bar) No. Stations (Line)Ref : Gas station COCO Type operate by the subsidiary (BGN)
23
STRICTLY PRIVATE & CONFIDENTIAL
Net Income
(THB Million)
Dividend
(4,000)
(3,000)
(2,000)
(1,000)
0
1,000
2,000
3,000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 9M2007
Listed in SET
Asian Economic Crisis
Shocked by 911
CapitalRestructuring
Capital Restructuring Completion& Start Business Restructuring
*
* Included Inventory Gain/LossDividend
-
-
1998
-
-
1997
64%
1.25
1996
-
-
2000
-
-
1999
-
-
2002
-
-
2001
-
-
2004
-
-
2003
11%
0.30
2005
78%
1.25
1995
?
?
2007
80% --Payout Ratio
0.17--Baht / Share
200619941993Year
Dividend Policy : Pay out at the rate of 50% of net profit, depending on the economic situation and the Company's future
business projects
24
STRICTLY PRIVATE & CONFIDENTIAL
CSDR
CD to PTT
CS
Warrant
CDDR
ESOP Warrant
Lis
ted
Lis
ted
Lis
ted
Non -
Lis
ted
Non
Non --
Lis
ted
Lis
ted
• Capital protected by MoF THB13 / per unit at maturity date Feb 2, 2014• Force conversion : when BCP-DR1 > THB 20.80, 15 consecutive days
• No capital protection• Par value of THB 1.00 per share
• Right offering in 2Q06• Exercise price THB 18 per CS, Quarterly• Maturity in May 2011 (5 years)
• Capital protected by MoF @ THB10,000 per unit (Jan 29,2014)• Coupon 3% p.a., Semi-annual• Conversion : THB 14.30 per CS, Quarterly• Force conversion : when BCP-DR1 > THB 21.45, 15 consecutive days
• Solely issued to PTT for PQI funding• Conversion price THB 14.00 per CS, Quarterly• Coupon 3% p.a., Semi-annual
BCP-DR1
BCP
BCP-W1
BCP141A
TickerTickerNameName
• Issued to BCP’s directors and employees maturity at Aug 24, 2009• Exercise price THB 5 per CS when BCP-DR1 > THB 21, 5 consecutive days
Note: CSDR, CS, Warrant are tradable in Stock Exchange of Thailand (SET)CDDR is tradable in TBDCWarrant (BCP-W1 and ESOP) exercise ratio is 1 Warrant per 1 CS
Significant Terms & ConditionsSignificant Terms & ConditionsTypeType
Common Share Depository Receipt
Convertible Debenture
Common Share
Warrant
Convertible Debenture Depository Receipt
Warrant
BCP’s Instrument & Features
25
STRICTLY PRIVATE & CONFIDENTIAL
-
2
4
6
8
10
12
14
16
18
20
Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec
-
2
4
6
8
10
12
14
16
18
20
2004
Baht / Share
Stock Trading Price
Book Value as of Sep 30, 2007 at Baht 17.54 per share
Capital Protected
by MOF
only on BCP-DR1
2005 2006 2007
BCP-DR1 BCP Book Value
27
STRICTLY PRIVATE & CONFIDENTIAL
Company Performance 3Q07
Q3, 07Q3, 07 Q3, 06Q3, 06 YTD Q3,07YTD Q3,07 YTD Q3,06YTD Q3,06: Million Baht
EBITDA 960 243 2,681 2,325
� Depreciation & Amortization (204) (199) (615) (611)
� Net Interest Expense (120) (141) (341) (451)
� FX-Other Gain (Loss) (3) (51) (54) (120)
� Adjust Impairment - 1 - 1
� � � � Profit / (Loss) before Tax 633 (146) 1,671 1,145
� Tax (135) 144 (382) (228)
Net Profit (Loss) 498 (2) 1,289 917
- -
- INVENTORY GAIN / (LOSS) 279 (232) 776 393
- INVENTORY WRITE DOWN - (350) 55 (350)
Adjusted EBITDA 681 825 1,850 2,282
28
STRICTLY PRIVATE & CONFIDENTIAL
YTD,07 YTD,06
95/DB 15.18 13.27
GO/DB 15.80 15.95
FO/DB (10.54) (12.08)
YTD Q3, 07YTD Q3, 07 YTD Q3, 06YTD Q3, 06
Business Unit Performance - Refinery
M.Baht $/BBL M.Baht $/BBL
EBITDA +2,262 +2,045
� Base GRM 2,044 2.85 1,808 2.49
� Improvement Programs 16 0.02 253 0.35
� Hedging 164 0.23 688 0.95
� Inventory Gain / (Loss) 776 1.08 393 0.54
Total GRM 3,000 4.18 3,142 4.33
� Other Income 118 0.16 26 0.04
� Expenses (856) (1.19) (1,123) (1.55)
• Operating Expenses (911) (1.27) (773) (1.06)
• Inventory Write Down 55 0.08 (350) (0.48)
� Adjusted EBITDA +1,432 +2,002
Crude Run (KBD) 66 60
Net Sale 75 69
3.10 3.79
29
STRICTLY PRIVATE & CONFIDENTIAL
YTD Q3, 07YTD Q3, 07 YTD Q3, 06YTD Q3, 06
Business Unit Performance - Marketing
M.Baht St./L. M.Baht St./L.
EBITDA +419 +281
� Retail Margin 545 35 376 25
� Industrial Margin 209 31 356 52
� Lube Margin 82 784 54 602
Total MKM 835 37 786 35
� Other Income 366 16 332 15
� Operating Expenses (782) (35) (837) (38)
� Sale Volume KBD ML/Mo KBD ML/Mo
� Retail Vol. 37 178 35 171
� Industrial Vol. 16 76 16 77
Total Sale Volume 53 254 51 248
34 33
30
STRICTLY PRIVATE & CONFIDENTIAL
PTT
34.8%
SHELL
17.8%
ESSO
11.3%
BCP
22.3%CTX
6.4%
JET
4.6%
Others
2.8%
GASOHOLMOGAS POOL HSD POOL Bio Diesel 5%
Year 2006
9M 2007
481 ML/Mo-1.5%
127 ML/Mo
+21.1%868 ML/Mo-3.1%
30 ML/Mo+26 ML/Mo
PTT
31.9%
SHELL
17.3%
ESSO
15.7%
BCP
12.6%
Others
6.1%
JET
6.8%
CTX
9.6%
PTT
37.4%
SHELL
19.9%
ESSO
7.8%
BCP
23.2% CTX
5.8%
JET
3.8%
Others
2.1%
PTT
35.5%
SHELL
14.4%
ESSO
17.6%
BCP
11.9%
CTX
7.5%
JET
6.3%
Others
6.8%
PTT
57.3%
BCP
42.7%
489 ML/Mo 105 ML/Mo 896 ML/Mo 4 ML/Mo
Vol. +16.9%Vol. +1.6% Vol. +0.7% Vol. +23 ML/Mo
Market Share of Service Station 9M07
PTT
30.8%
SHELL
17.8%
ESSO
16.2%
BCP
13.0%
Others
5.9%
JET
6.7%
CTX
9.6%
PTT
33.3%
SHELL
15.1%
ESSO
18.3%
BCP
12.4%
CTX
7.5%
JET
6.8%
Others
6.6%
PTT
21.4%
BCP
78.6%
31
STRICTLY PRIVATE & CONFIDENTIAL
Vol. ML/Mo GSH 95 GSH 91
Total Year PTT BCP SHELL ESSO OTHERS
55.7 2005
104.6 2006
�88.8%
126.7 9M07
�21.1%44.1
39.1
21.1
28.3
24.2
20.2
22.6
20.8
11.4
14.3
8.2
17.4
12.3
0.9
2.1
- 20 40 60 80 100 120 140
PTT BCP SHELL ESSO OTHERS-
20.2
16.4 7.8
11.9 16.4
Gasohol
95Gasohol
91
Current Status
(Dec 2007)
Current Status
(Dec 2007)
Volume : Volume : 19.819.8 MLML
Stations : 707 UnitsStations : 707 Units
Volume : Volume : 23.6 ML23.6 ML
Stations : 497 UnitsStations : 497 Units
+12.8% +16.9% +8.6% +74.4% +41.5%
The Leader in Renewable Energy
Unit : Million liter / Month
32
STRICTLY PRIVATE & CONFIDENTIAL
-
5.00
10.00
15.00
20.00
25.00
30.00
35.00
Ja
n-0
6
Fe
b-0
6
Ma
r-0
6
Ap
r-0
6
Ma
y-0
6
Ju
n-0
6
Ju
l-0
6
Au
g-0
6
Se
p-0
6
Oct-
06
No
v-0
6
De
c-0
6
Ja
n-0
7
Fe
b-0
7
Ma
r-0
7
Ap
r-0
7
Ma
y-0
7
Ju
n-0
7
Ju
l-0
7
Au
g-0
7
Se
p-0
7
Oct-
07
No
v-0
7
De
c-0
7
-
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
Vol U91 Vol GSH91 Price GSH91 Price U91
The Leader in Renewable Energy
Baht / Liter
(Line)Million liter / Month
(Bar)
“Since the government had the policy to increase price gap, we got success in promotion of gasohol91“
33
STRICTLY PRIVATE & CONFIDENTIAL
Rewards
2nd Consecutive Time
“Board of the Year for Exemplary
Practices”
2006/2007
December 11, 2007
2nd Consecutive Time
“Board of the Year for Exemplary
Practices”
2006/2007
December 11, 2007
34
STRICTLY PRIVATE & CONFIDENTIAL
Rewards
“Good Corporate Governance Report of Thai Listed Companies 2006”
From Thai Institute of Directors (IOD)
(Top nine from 402 companies)
“Good Corporate Governance Report of Thai Listed Companies 2006”
From Thai Institute of Directors (IOD)
(Top nine from 402 companies)
The Siam Commercial Bank9.
Ratchaburi Electric.8.
PTTEP7.
PTT6.
Krung Thai Bank5.
Kasikorn Bank4.
Bangkok Bank3.
Banpu2.
Bangchak Bangchak PclPcl..1.1.
35
STRICTLY PRIVATE & CONFIDENTIAL
Rewards
2nd Year
“Best Corporate Governance Report”
in SET AWARDS 2006
July 26, 2006
2nd Year
“Best Corporate Governance Report”
in SET AWARDS 2006
July 26, 2006
“Best Corporate Social Responsibility”
in SET AWARDS 2006
July 26, 2006
“Best Corporate Social Responsibility”
in SET AWARDS 2006
July 26, 2006
SET AWARDS 2007 IS SKIPED TO Y2008
Contact • [email protected] or
[email protected] Tel. 02-335-4583
Website • www.bangchak.co.th click Investor Relation
Thank YouThank You